🚨PEPE Plunges 12% as Reward Dump Sparks Sell-Off — But Weekly Gains Hold at 27% $QI
· The Drop: PEPE lost 12% of its market cap in 24 hours, hit by a $2.84M reward distribution from the StonkFun system that holders quickly sold off.
· The Context: The fall came alongside a 5%+ slide across memecoins, fading momentum, and shrinking open interest ($400M → $334M).
· The Silver Lining: PEPE is still up ~27% for the week, suggesting a short-term correction rather than a trend reversal.
· What to Watch: Support at $0.00000430, with a possible rebound catalyst in a spot PEPE ETF decision by early December.
· The Drop: PEPE lost 12% of its market cap in 24 hours, hit by a $2.84M reward distribution from the StonkFun system that holders quickly sold off.
· The Context: The fall came alongside a 5%+ slide across memecoins, fading momentum, and shrinking open interest ($400M → $334M).
· The Silver Lining: PEPE is still up ~27% for the week, suggesting a short-term correction rather than a trend reversal.
· What to Watch: Support at $0.00000430, with a possible rebound catalyst in a spot PEPE ETF decision by early December.
